Daily Archives: August 4, 2016

Interest Subvention Scheme -Union Budget – 2016-17 : RBI Guidelines

By | August 4, 2016

RBI/2016-17/32 FIDD.CO.FSD.BC.No 9/05.02.001/2016-17 August 4, 2016 To, The Chairman / Managing Director All Public & Private Sector Scheduled Commercial Banks Dear Sir/Madam Union Budget – 2016-17 Interest Subvention Scheme As directed by the Government of India and in pursuance of the budget announcement relating to the Interest Subvention Scheme 2016-17 (the Scheme) it is advised… Read More »

Dishonour of cheques – RBI Modified procedure

By | August 4, 2016

RBI/2016-17/33 DBR.No.Leg.BC.3/09.07.005/2016-17 August 04, 2016 All Scheduled Commercial Banks (Including RRBs) Dear Sir/ Madam, Dishonour of cheques – Modification in procedure Please refer to our circular DBOD.BC.Leg.No.113/09.12.001/2002-03 dated June 26, 2003 and paragraph 11.4 (i) of RPCD.CO.RRB.BC.No.100/03.05.33/2013-14 dated May 12, 2014 wherein banks were advised to introduce a condition for operation of accounts with cheque… Read More »

RBI Guidelines on Ind AS for All-India Term Lending and Refinancing Institutions(AIFIs)

By | August 4, 2016

RBI/2016-17/34 RBI/2016-17/DBR.FID.No. 1/01.02.000/2016-17 August 04, 2016 All India Financial Institutions (Exim Bank, NABARD, NHB and SIDBI) Madam / Dear Sir, Implementation of Indian Accounting Standards (Ind AS) The Ministry of Corporate Affairs (MCA), Government of India has notified the Companies (Indian Accounting Standards) Rules, 2015 on February 16, 2015. A reference is also invited to… Read More »

GST Next Steps : Govt. Roadmap to GST

By | August 4, 2016

GOODS AND SERVICES TAX THE ROADMAP TO GST (Extracts from Presentation of Revenue Secretary’s of Govertment of India ) • Establishment of Legal Framework • Preparation of IT infrastructure • Change Management: • Training of Officials and Staff • Outreach and Consultation with trade and industry • Target date of GST Roll Out: 1st April 2017… Read More »

ARTICLE 268A omitted after Constitution 101st Amendment Bill 2016

By | August 4, 2016

ARTICLE 268A  [AS AMENDED BY THE CONSTITUTION (ONE HUNDRED AND FIRST AMENDMENT) BILL, 2016 AS PASSED BY RAJYA SABHA ON 3RD AUGUST, 2016] ARTICLE 268A Service tax levied by Union and collected and appropriated by the Union and the States. 268A. 2 [Omitted by the Constitution (One Hundred and First Amendment) Bill, 2016.]   2. Prior to… Read More »